Last checked at 22 Aug 2022 07:00
22 August 2022
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Aptamer Group plc
("Aptamer", the "Company" or the "Group")
FULL YEAR TRADING UPDATE
Aptamer Group plc (AIM: APTA), the developer of novel Optimer® binders to enable innovation in the life sciences industry, is pleased to announce a trading update for the year ended 30 June 2022.
Revenue growth of c.150% and strong cash performance
Aptamer expects to report revenue for the year ended 30 June 2022 of approximately £4.0 million, c.150% ahead of the prior year period (15 months period to 30 June 2021: £1.6 million) and in line with market expectations. Growth has been delivered from strong operational performance, including contract wins and extensions across all three business units.
Cash at 30 June 2022 was £6.7 million (30 June 2021: £0.4 million, 31 December 2021: £9.8 million), ahead of market expectations, due to continued proactive management of cash, positioning the Group well to deliver future growth.
Operational highlights demonstrate momentum in the delivery of strategic objectives
During the period, the Group has continued to make good progress with new and existing collaborations, as summarised below.
Aptamer Solutions
· Multiple new projects, including the development of Optimer binders as bioprocessing ligands for a top ten pharma company and the development of Optimer binders to support numerous research projects
· Progress across two large scale projects to support life science tool companies is continuing with support from all partners
Aptamer Diagnostics
· An agreement was signed with a precision oncology company to develop Optimer binders for use in a companion diagnostic assay
· Continued expansion of Aptamer's partnership with DeepVerge plc has seen the installation of Optimer-enabled Microtox®PD systems at six sites across the UK as part of the Environmental Monitoring for Health Protection (EMHP) programme
Aptamer Therapeutics
· Extension of collaboration with PinotBio for the development of Optimer-drug conjugates following positive initial results
· The collaboration with AstraZeneca continues, supporting the development of Optimer binders as next-generation drug delivery vehicles in kidney disease
The Group continues to increase the scale of its operations, with preparations for the planned relocation to larger premises in York well underway with the move expected to complete by the end of 2022. This move to purpose built laboratories will enable Aptamer to scale its operations and streamline workflows, to more efficiently deliver projects and service the increase in demand for its Optimer binders from both new and existing customers. Additionally, the Group is delivering ahead of internal plans on implementation of its Optimer+ platform (novel binder technology) and has made progress in the generation of data packs to support the development of strategic collaborations in the drug delivery tools space. The Group is continuing to invest in the advancement of its proprietary platform to strengthen its position in the market.
The Group made several key appointments in the second half of the year to further enhance its senior leadership team and continue to deliver its growth strategy. These include Ross Wheatcroft as Chief Commercial Officer, Alastair Fleming as Chief Operating Officer and Jenny Cutler as Interim Chief Financial Officer.
Arron Tolley, Chief Executive Officer of Aptamer Group, commented: "We are pleased with the pace of progress over the past six months, having seen success in expanding our current partnerships and winning new contracts, which has delivered financial performance in line with market expectations. As well as aiming to continue delivering strong revenue growth, we are making preparations to further capitalise on the clear market opportunities, new strategic collaborations and the demand for next-generation affinity ligands key to enable our future growth. We are anticipating growing demand as Pharma and Biotech increasingly outsource the development of enhanced binders for delivery of new generations of therapeutics. To support our strategic objectives, we are increasing headcount across the business and expanding business development activities. We are looking forward to moving to our new, larger premises, with purpose-built automation which will enable us to deliver more projects efficiently to our growing customer base."
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For further information, please contact:
Aptamer Group plc
Dr Arron Tolley - CEO +44 (0) 1904 56 7790
Liberum - Broker
Richard Lindley / Ben Cryer / Will Hall / Cara Murphy +44 (0) 20 3100 2000
SPARK Advisory Partners Limited - Nominated Adviser
Andrew Emmott / Adam Dawes +44 (0) 20 3368 3550
Consilium Strategic Communications
Matthew Neal / Chris Welsh / Lucy Featherstone +44 (0) 20 3709 5700
aptamergroup@consilium-comms.com
About Aptamer Group plc
Aptamer Group develops custom affinity binders through its proprietary Optimer® platform to enable new approaches in therapeutics, diagnostics and research applications. The Company strives to deliver transformational solutions that meet the needs of life science researchers and developers through the use of its proprietary Optimer platform.
Optimer binders are oligonucleotide affinity ligands that can function as an antibody alternative. The global antibody market is currently worth over $145bn. Optimer binders are engineered to address many of the issues found with alternative affinity molecules, such as antibodies, and offer new, innovative solutions to bioprocessing, diagnostic and pharmaceutical scientists.
Aptamer Group has successfully delivered projects for global pharma companies, diagnostic development companies, and research institutes covering a range of targets and applications with the objective of establishing royalty-bearing licenses. Through the unique Optimer technology and processes, scientists and collaborators are enabled to make faster, more informed decisions that support discovery and development across the Life Sciences.